{"id":598384,"date":"2019-05-23T03:44:46","date_gmt":"2019-05-23T03:44:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/"},"modified":"2019-05-23T03:44:46","modified_gmt":"2019-05-23T03:44:46","slug":"egypts-fra-to-bring-sme-financing-under-2014-microfinance-law","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/","title":{"rendered":"Egypt\u2019s FRA to bring SME financing under 2014 microfinance law"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <b>LEGISLATION WATCH- FRA to bring SME financing under 2014 microfinance law: <\/b>Dedicated SME lenders including finance companies and NGOs could be governed under the <a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/pool_extra_efsa\/UG33615UG33616.pdf\">2014 microfinance law (pdf)<\/a> after the Financial Regulatory Authority\u2019s (FRA) board of directors approved amendments to the legislation, <a href=\"http:\/\/www.fra.gov.eg\/content\/efsa_ar\/efsa_news\/efsa_775.htm\">the regulator said in a statement (pdf)<\/a>. The proposed changes would see the inclusion of SMEs in the law\u2019s name and make the necessary amendments to its articles to reflect the addition. This would mean all stipulations aimed at regulating microfinance activity \u2014 including articles pertaining to lenders\u2019 technical and risk management capabilities \u2014 would apply to SME lenders. The changes will now make their way to the Madbouly Cabinet for review.<\/p>\n<p><b>What else is new? <\/b>The draft amendments would introduce a EGP 20 mn capital requirement for SME lenders, and keep the requirement for their microfinance counterparts at EGP 5 mn. They would also allow SME finance providers to be members of a rebranded Egyptian Microfinance Federation. Those providers will be allowed to provide financial leasing services in accordance to the recently-ratified <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/26\/el-sisi-ratifies-cyber-crimes-act-leasing-and-factoring-act\/\">Leasing and Factoring Act<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- FRA to bring SME financing under 2014 microfinance law: Dedicated SME lenders including finance companies and NGOs could be governed under the 2014 microfinance law (pdf) after the Financial Regulatory Authority\u2019s (FRA) board of directors approved amendments to the legislation, the regulator said in a statement (pdf). The proposed changes would see the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,180,311,595,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-598384","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-legislation","tag-microfinance","tag-non-banking-financial-services","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d6e35f19-7362-49ba-b5c8-e9d3214bbeeb","is_powered_by":true,"section_story_id":"5165007a-902d-43d0-b9e9-071013232557","story_type":"1","photo_url":"","photo_position":"above","related_issue":[598376],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s FRA to bring SME financing under 2014 microfinance law - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s FRA to bring SME financing under 2014 microfinance law\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- FRA to bring SME financing under 2014 microfinance law: Dedicated SME lenders including finance companies and NGOs could be governed under the 2014 microfinance law (pdf) after the Financial Regulatory Authority\u2019s (FRA) board of directors approved amendments to the legislation, the regulator said in a statement (pdf). The proposed changes would see the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-23T03:44:46+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s FRA to bring SME financing under 2014 microfinance law\",\"datePublished\":\"2019-05-23T03:44:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/\"},\"wordCount\":185,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"legislation\",\"microfinance\",\"non-banking financial services\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/05\/23\/egypts-fra-to-bring-sme-financing-under-2014-microfinance-law\/\",\"name\":\"Egypt\u2019s FRA to bring SME financing under 2014 microfinance law - 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The amendments raise the maximum value of a micro-loan to a single company or project to EGP 200k from EGP 100k, according to a summary of\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567255,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/16\/house-smes-committee-approves-microfinance-act\/","url_meta":{"origin":598384,"position":1},"title":"House SMEs Committee approves Microfinance Act","author":"enterpriseam admin","date":"16 January 2020","format":false,"excerpt":"LEGISLATION WATCH- House SMEs Committee approves Microfinance Act: The House SMEs committee approved the six amendments to the 2014 microfinance law proposed by the Financial Regulatory Authority, paving the way for a general assembly vote within days, according to Al Mal. The legislative amendments would bring dedicated SME lenders, including\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592019,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/24\/egypts-house-to-extend-temporary-law-to-settle-building-code-violations\/","url_meta":{"origin":598384,"position":2},"title":"Egypt\u2019s House to extend temporary law to settle building code violations","author":"enterpriseam admin","date":"24 December 2019","format":false,"excerpt":"LEGISLATION WATCH- The House SMEs Committee is set to begin its review of proposed amendments to the 2014 microfinance law once it wraps up discussions on the proposed SMEs Act, to which the committee gave a preliminary nod last month, according to the local press. The Financial Regulatory Authority\u2019s (FRA)\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575952,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/04\/new-regulatory-framework-for-sme-lenders-announced\/","url_meta":{"origin":598384,"position":3},"title":"New regulatory framework for SME lenders announced","author":"enterpriseam admin","date":"4 November 2020","format":false,"excerpt":"REGULATION WATCH- SME lenders will need to be set up as joint-stock companies with a minimum capital of EGP 30 mn under a regulatory framework set out by the Financial Regulatory Authority (FRA) yesterday (pdf). Any company seeking an SME lending license must be at least 50% owned by juridical\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600900,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/13\/egypts-fra-makes-insurance-mandatory-for-microfinance-provider\/","url_meta":{"origin":598384,"position":4},"title":"Egypt\u2019s FRA makes insurance mandatory for microfinance provider","author":"enterpriseam admin","date":"13 February 2019","format":false,"excerpt":"REGULATION WATCH- FRA makes insurance mandatory in micro- and SME finance: The Financial Regulatory Authority (FRA) is forcing microfinance and SME finance players to provide insurance coverage for their borrowers, the authority said in a statement (pdf). The contracts will pay out an amount equivalent to the loans in the\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564172,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/and-egypts-first-microleasing-license-goes-to\/","url_meta":{"origin":598384,"position":5},"title":"And Egypt\u2019s first microleasing license goes to...","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"Tasaheel acquires Egypt\u2019s first microleasing license: Micro lender Tasaheel was today granted the first license for microfinance leasing in the Egyptian market by the Financial Regulatory Authority (FRA), a source at the regulator told Enterprise today. This will make the company \u2014 which also received the country\u2019s first SME microfinancing\u2026","rel":"","context":"In &quot;SPEED ROUND: FINANCE&quot;","block_context":{"text":"SPEED ROUND: FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/429.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=598384"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/598384\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/598376"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=598384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=598384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=598384"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=598384"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=598384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}